Applied Materials, Inc. (NASDAQ:AMAT) had its price objective hoisted by Cowen and Company from $45.00 to $50.00 in a report issued on Friday. The brokerage presently has an “outperform” rating on the manufacturing equipment provider’s stock. Cowen and Company’s target price would indicate a potential upside of 13.87% from the company’s previous close.
AMAT has been the subject of a number of other reports. B. Riley reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Applied Materials in a research note on Monday. Citigroup Inc reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Applied Materials in a research note on Wednesday. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $40.00 price objective (up from $35.00) on shares of Applied Materials in a research note on Wednesday. Bank of America Corp reaffirmed a “buy” rating and issued a $54.00 price objective (up from $45.00) on shares of Applied Materials in a research note on Wednesday. Finally, Stifel Nicolaus boosted their target price on Applied Materials from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Applied Materials presently has a consensus rating of “Buy” and a consensus target price of $39.45.
Applied Materials (NASDAQ:AMAT) opened at 43.91 on Friday. The firm has a 50-day moving average price of $40.59 and a 200 day moving average price of $35.57. The company has a market cap of $47.42 billion, a P/E ratio of 22.59 and a beta of 1.81. Applied Materials has a 12 month low of $21.70 and a 12 month high of $45.08.
Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, May 18th. The manufacturing equipment provider reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. Applied Materials had a return on equity of 28.09% and a net margin of 15.90%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The company’s revenue for the quarter was up 44.7% on a year-over-year basis. Equities research analysts predict that Applied Materials will post $2.71 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, May 25th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, May 23rd. This represents a $0.40 annualized dividend and a yield of 0.91%. Applied Materials’s dividend payout ratio is currently 25.64%.
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Hedge funds have recently made changes to their positions in the stock. Reilly Financial Advisors LLC increased its stake in shares of Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock valued at $105,000 after buying an additional 1,180 shares in the last quarter. Pinnacle Bank purchased a new position in Applied Materials during the first quarter worth approximately $113,000. State of Alaska Department of Revenue purchased a new position in Applied Materials during the first quarter worth approximately $114,000. James Investment Research Inc. increased its position in Applied Materials by 90.6% in the first quarter. James Investment Research Inc. now owns 3,050 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 1,450 shares during the period. Finally, Independent Advisor Alliance purchased a new position in Applied Materials during the fourth quarter worth approximately $105,000. Hedge funds and other institutional investors own 82.52% of the company’s stock.
Applied Materials Company Profile
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